The most ambitious treatment is given in Physics of Sailing by J. Kimball, where both Bernoulli and Kutta-Zhukovsky's circulation theory are presented, but with a disappointing sum-up on p 163:

The sail experiences lift because the sail deflects the wind. Equal and opposite forces mean that is the sail pushes the wind in one direction, the wind pushes the sail the other way. This explanation, which relies only on the rule of equal and opposite forces, is surely correct.

Yes, it is surely correct, as any empty theory which explains nothing, as illustrated in the above picture.

We see that there is surely a great need for a correct theory which explains the physics of sailing and that there is no such theory as state-of-the-art.

Our work fills this gap in physics theory and in particular shows that the state-of-the-art explanations represented by Newton, Bernoulli or Kutta-Zhukovsky are all incorrect.

Of course, the physics of flying and sailing is not of any interest to physicists of today paralyzed by string theory, but it is an interesting problem of physics of importance to many.

Altogether we presents the first scientifically correct explanation of the generation of lift L and drag D of a wing or sail with L/D > 10, which is needed to make both flying and sailing possible in practice.

It is expected that the new explanation will open to improved designs of both sails and keels.

Notice that the new Americas Cup design AC45 (preparing for the AC72 in 2013 match) has a main sail in the form of a wing.